Platform assets increased to £173bn in the final quarter of last year - despite a drop in sales owing to ongoing economic uncertainty, research suggests.
According to Fundscape's quarterly platform report, platform assets rose to £173.7bn during the last three months of the year, up 7% on the third quarter, thanks to robust stock market performance. But 2011 ended on a low note for the industry, with gross sales dropping 20% in the final quarter to £9.5bn and net sales plunging 42% to £4bn. But Fundscape said the Q4 drop-off was merely a "blip" and can be explained by delayed investor reaction to a spate of bad economic news which started to emerge in August. For the year as a whole, platforms registered gross flows of £44.6bn, up 3...
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